Home Inspections: What Every Buyer Should Know

You've found the perfect home and settled on a sales price.  The first thing you'll want to do is to make sure your dream home is as structurally sound as it cosmetically appears. 

To do this you'll need to find a reputable home inspector to look over every nook and cranny of the home you are purchasing.  This person will test all systems in the house to make sure they are in working order as well as perform a visual inspection. 

After the inspection is complete, you will be given a detailed report of the condition of the home.  This report should contain information about aspects of the home which are not in working order, allowing you to go back and renegotiate your existing contract to ensure the seller either makes necessary repairs, escrows funds so that you can have the repairs done, or takes a certain amount off of the selling price to compensate for the expenses you will incur making the needed repairs.

Steps to a Home Inspection:

1.   Find a Qualified, Professional Home Inspector

Your Realtor® will be able to refer you to a good home inspector.  Usually Realtors® have working relationships with several inspectors and can suggest the best ones. 

2.   Set Up a Time for a Home Inspection

You'll want to set this inspection up as quickly as possible.  Doing so will allow plenty of time to negotiate repairs which may need to be done or financial allowances which will need to be made.

3.   Attend the Home Inspection

Most home inspectors do not mind a buyer being present during an inspection.  Being at the inspection allows a buyer the opportunity to see what items are being inspected and to ask any questions of the inspector. 

4.   Look Over the Inspection Report with Your Realtor®

Once the inspection report is complete, the buyer and Realtor® will sit down together and go over each item.  A good Realtor® will advise a buyer on which items should be addressed..

5.   Renegotiate

Once you and your Realtor® have decided on which items on an inspection report need to be addressed, you'll then need to decide exactly what you'll ask a seller to do.  Usually, with large repairs, a Realtor® may suggest asking the seller to make the repair before the sale is final.  For smaller repairs, monetary compensation may be requested or the buyer may ask if the seller will make the repairs. 

A key point for every buyer to keep in mind when purchasing a home is that no home is in perfect condition (unless you're purchasing a new home).  Every home will have things wrong with it.  And, while you'll want potentially serious defects addressed, it is not realistic to expect a seller to repair every defect cited on a home inspection report.

A good Realtor® will advise a buyer on items which should be repaired and then devise a negotiating strategy to either have the seller make the necessary repairs, financially reimburse the buyer for the repairs by giving a repair allowance or deducting the repair costs off of the final home price.

While a home inspection can, at times, seem daunting, your Realtor® will walk you through every step and help you in your decision making process, thereby demystifying the process.  In the end, a home inspection performed by a reputable inspector will put you at easy and give you peace of mind when purchasing your new home.  

Troy Trumm
Alliance Real Estate

Omaha, NE
http://www.trummteam.com/
Omaha Homes for Sale